17 Aug 2015
GBP/USD remains capped by 1.5650
FXStreet (Córdoba) - GBP/USD is going through a consolidation phase after pulling back sharply from the 1.5690 zone during the European session.
GBP/USD made a recovery attempt following disappointing US manufacturing data, but it was capped by the 1.5640 area, confining the pair to a tight range. At time of writing, Cable is trading at 1.5625, recording a 0.16% loss on the day.
The focus now turns to inflation figures in the UK (Tuesday) and the US (Wednesday), which will be followed by FOMC minutes, with investors searching for guidance on the probability of a September liftoff.
GBP/USD technical levels
In terms of technical levels, GBP/USD could find next resistances at 1.5687 (Aug 17 high) and 1.5700 (psychological level) ahead of 1.5732 (Jul 1 high). On the other hand, supports are seen at 1.5618 (Aug 17 low), 1.5577 (21-day SMA) and 1.5533 (Aug 12 low).
GBP/USD made a recovery attempt following disappointing US manufacturing data, but it was capped by the 1.5640 area, confining the pair to a tight range. At time of writing, Cable is trading at 1.5625, recording a 0.16% loss on the day.
The focus now turns to inflation figures in the UK (Tuesday) and the US (Wednesday), which will be followed by FOMC minutes, with investors searching for guidance on the probability of a September liftoff.
GBP/USD technical levels
In terms of technical levels, GBP/USD could find next resistances at 1.5687 (Aug 17 high) and 1.5700 (psychological level) ahead of 1.5732 (Jul 1 high). On the other hand, supports are seen at 1.5618 (Aug 17 low), 1.5577 (21-day SMA) and 1.5533 (Aug 12 low).